memphis: Five Things You Must Absolutely Know BEFORE You Buy (Part 2)
- 07/21/06 01:37 AM
2. Sell First, Then Buy If you have a house to sell, sell it before selecting a house to buy! As the market heats up you don't see many contingent sales work for a buyer, unless it’s with a new home builder who has other houses to sell and can afford to put one on a contingency. Let’s pretend that we go out looking for the perfect house for you. We find it and you love it! Now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell … (1 comments)
memphis: Five Things You Must Absolutely Know BEFORE You Buy (Part 1)
- 07/21/06 01:34 AM
1. Don’t Get “Pre-Qualified! Do you want to get the best house you can for the least amount of money? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller. In years past, some always recommended that buyers get “pre-qualified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on … (2 comments)
memphis: Drawbacks of Overpricing
- 07/21/06 01:27 AM
REDUCES ACTIVITY: Agents won’t show the property if they feel it is priced too high.LOWER ADVERTISING RESPONSE: Buyer excitement will be with other properties that offer better value.LOSS OF INTERESTED BUYERS: The property will seem inferior in amenities to other properties in the same price range that are correctly priced.ATTRACTS THE WRONG PROSPECTS: Serious buyers will feel that they should be getting more for their money.HELPS THE COMPETITION: The high price makes the others look like a good deal.ELIMINATES OFFERS: Since a fair priced offer will be lower than asking price and may insult the seller, many buyers will just move … (1 comments)
memphis: Benefits of Proper Pricing
- 07/20/06 05:08 AM
FASTER SALE: The proper price gets a faster sale, which means you save on mortgage payments, insurance, and other carrying costs. LESS INCONVENIENCE: As you may know, it takes a lot of time and energy to prepare your home for showings, keep the property clean, make arrangements for children, and generally alter your lifestyle. Proper pricing shortens market time. INCREASED SALESPERSON RESPONSE: When salespeople are excited about a property and its price, they make special efforts to contact all their potential buyers and show the property whenever possible. EXPOSURE TO MORE PROSPECTS: Pricing at market value will open your home up to more people … (1 comments)
memphis: Pricing Guidelines
- 07/20/06 05:03 AM
What you paid for your property does not effect its value.The amount of money you need to get out of the sale of your property does not effect its value.What you think it should be worth has no effect on value.What another real estate agent says your property is worth does not effect its value.An appraisal does not always indicate what your property is worth on the open market. The value of your property is determined by what a ready willing and able buyer will pay for it in the open market, which will be based upon the value of other recent … (2 comments)
memphis: Common Real Estate Myths
- 07/20/06 04:58 AM
MYTH:A “discount” broker can do just as well and save me money. TRUTH:Successfully marketing a property in the competitive marketplace takes skill and resources. All of the promotional costs such as photos, brochures, printing, signs, advertisements, MLS fees, direct mail, etc. are paid for by Your Agent. How will a discount broker offer such a complete marketing campaign? Does the discount broker have a staff to personally tend to your specific needs? Do they have a proven track record of success, or are they just using the lower commission to try to win your business? Do they have the expertise to guide … (3 comments)
2. Sell First, Then Buy If you have a house to sell, sell it before selecting a house to buy! As the market heats up you don't see many contingent sales work for a buyer, unless it’s with a new home builder who has other houses to sell and can afford to put one on a contingency. Let’s pretend that we go out looking for the perfect house for you. We find it and you love it! Now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell … (1 comments)
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